Samsung, Pattern finance, start construction on Ontario wind power project
The Armow Wind project will generate enough renewable energy to power about 70,000 Ontario homes based on average annual residential energy use in Ontario
Construction has begun on the Armow Wind power project in Ontario. Samsung Renewable Energy Inc. and Pattern Energy Group LP completed a $518 million construction and term loan financing, which was secured with 10 financial institutions.
Located in the Township of Kincardine, the 180 MW Armow Wind power project will use more than 200 Ontario workers and Ontario-made products, including 91 wind turbine towers made in Windsor and 273 blades manufactured in Tillsonburg.
The Armow Wind project will generate enough renewable energy to power about 70,000 Ontario homes based on average annual residential energy use in Ontario. The project, which is expected to be completed in the fourth quarter of 2015, will utilize 91 Siemens 2.3 MW wind turbines. Armow Wind has a 20-year power purchase agreement with the Ontario Power Authority (OPA).
In addition to producing wind power, the Armow Wind project is bringing economic benefits to the Kincardine community, including more than $75 million over 20 years in property taxes, landowner lease royalties and community benefits. The project will fund a long-term community benefits program, which will support education and other initiatives, including a contribution of $1 million to the Kincardine Airport to improve local operations.